04 February 2012

MEXICO : Slim's Monopoly Can Continue To Choke Consumers.

The world's richest man...Carlos Slim...worth north of $74 billion...will continue his dominance of the overpriced Mexican telecom market...because a commission blocked a $1.6 billion deal to allow the merger of 2 of his biggest rivals. "It's almost like an episode in the Wild West, where the sheriff can't enter to resolve a fight and the consumers are paying the cost," said an observer. Slim's America Movil owns 80% of landlines, 70% of mobiles and 74% of internet access.